Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, and chairman of the Abu Dhabi Executive Council, on Thursday reviewed the progress of Adnoc’s carbon management strategy and its ambition to double its carbon-capture capacity to 10 million tonnes of carbon dioxide a year by 2030.
He commended the progress Adnoc has made this year in delivering tangible actions towards its accelerated net-zero-by-2045 plan, while chairing the meeting of the executive committee of Adnoc's board of directors, the Abu Dhabi Media Office said.
This includes the use of solar and nuclear energy to power operations, scaling up carbon-capture capacity, driving down methane emissions and investing in renewable energy and hydrogen as a shareholder in Masdar.
While directing the company to explore further opportunities for international growth, Sheikh Khaled highlighted Adnoc’s role as a catalyst for responsible growth and diversification of the UAE’s economy, the media office said in a statement.
He also gave directives to ensure sustainability remains central to the state oil company’s strategy to future proof its business while driving growth across its value chain.
Adnoc, responsible for most of the UAE’s oil and gas output, has been investing heavily in the production of natural gas and hydrogen as the Arab country looks to reach net-zero emissions by 2050.
The state-owned energy company has allocated $15 billion to invest in a range of projects by 2030, which will help it accelerate its low-carbon growth strategy.
Earlier this month, Adnoc announced one of the largest carbon capture projects in the Mena region. It will trap 1.5 million tonnes per year of climate-heating carbon dioxide from the Habshan gas processing plant, and store it safely and permanently underground.
Carbon capture, utilisation and storage (CCUS) involves the trapping of carbon dioxide emissions from industrial activities such as steel and cement production, as well as from fossil fuel combustion in power generation.
Subsequently, the captured carbon is transported either by ship or through pipelines and securely stored in subterranean geological formations.
During Thursday's meeting, Sheikh Khaled was briefed on the progress of Adnoc's Decarbonisation Technology Challenge, a $1 million global competition for companies that specialise in energy transition technology innovation that was launched in May this year.
Launched at the UAE Climate Tech Forum in Abu Dhabi, the challenge brought together 1,500 technology leaders and pioneers in climate technology in the emirate.
It also attracted 650 applications from global companies for the opportunity to pilot decarbonisation technology in Adnoc's operations, the statement said.
The meeting was attended by Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, managing director and group chief executive of Adnoc, and Cop28 President-designate; Ahmed Al Sayegh, Minister of State; Khaldoon Al Mubarak, group chief executive and managing director of Mubadala Investment Company; and Jassem Al Zaabi, chairman of the Abu Dhabi Department of Finance.
Sholto Byrnes on Myanmar politics
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
Find the right policy for you
Don’t wait until the week you fly to sign up for insurance – get it when you book your trip. Insurance covers you for cancellation and anything else that can go wrong before you leave.
Some insurers, such as World Nomads, allow you to book once you are travelling – but, as Mr Mohammed found out, pre-existing medical conditions are not covered.
Check your credit card before booking insurance to see if you have any travel insurance as a benefit – most UAE banks, such as Emirates NBD, First Abu Dhabi Bank and Abu Dhabi Islamic Bank, have cards that throw in insurance as part of their package. But read the fine print – they may only cover emergencies while you’re travelling, not cancellation before a trip.
Pre-existing medical conditions such as a heart condition, diabetes, epilepsy and even asthma may not be included as standard. Again, check the terms, exclusions and limitations of any insurance carefully.
If you want trip cancellation or curtailment, baggage loss or delay covered, you may need a higher-grade plan, says Ambareen Musa of Souqalmal.com. Decide how much coverage you need for emergency medical expenses or personal liability. Premium insurance packages give up to $1 million (Dh3.7m) in each category, Ms Musa adds.
Don’t wait for days to call your insurer if you need to make a claim. You may be required to notify them within 72 hours. Gather together all receipts, emails and reports to prove that you paid for something, that you didn’t use it and that you did not get reimbursed.
Finally, consider optional extras you may need, says Sarah Pickford of Travel Counsellors, such as a winter sports holiday. Also ensure all individuals can travel independently on that cover, she adds. And remember: “Cheap isn’t necessarily best.”
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
Results
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UAE currency: the story behind the money in your pockets
